Pixels, a leading name in the Web3 gaming universe, has seen its valuation nearly touch the $3 billion mark following its recent token debut on the Binance cryptocurrency exchange.
The PIXEL token, now trading at $0.5385, has surged an impressive 1,246% from its initial listing price of $0.04 on February 19, bringing its diluted market cap to a staggering $2.65 billion.
This milestone comes on the heels of Pixels’ strategic move from the Polygon network to Ronin, a Web3 gaming blockchain developed by Sky Mavis, renowned for its dedicated gaming community.
Big day. Our first live stream AMA post-TGE 🔥
Today we'll discuss:
➡️ What's coming next
➡️ Guilds
➡️ Pets mint
➡️ @CyberKongz partnership
➡️ TGE & the past few days
& as always, we'll answer alllll your burning questions pic.twitter.com/LadEirAb51— Pixels (@pixels_online) February 21, 2024
Surging User Engagement and Blockchain Recovery
Current figures from DappRadar show a robust engagement in Pixels, with 531,850 wallets now interacting with this adventure-packed social community game. This marks a 47.9% increase in user interaction over the last month.
Pixels offers players a relaxing gaming experience that includes farming, exploration, land ownership, and showcasing nonfungible tokens (NFTs) within its vibrant community.
Despite the PIXEL token’s rapid ascent, Berry, the game’s in-game token, has not mirrored this growth, lagging behind in gaming transaction values.
The Ronin blockchain, still recovering from a significant hack in 2022, has seen a resurgence this year.
Its token value has rebounded to pre-hack levels, and the blockchain’s total value locked (TVL) now stands at $214 million, largely fueled by Katana, its native decentralized exchange, which accounts for 99% of its volume.
Binance’s Role and Future Plans for Ronin
Ronin’s inclusion in the Binance ecosystem was not without its hiccups. The Ronin (RON) token experienced a downturn after its listing on February 5, attributed to insiders accumulating and quickly selling off RON, leading to a sharp price decline.
Yi He, co-founder of Binance, addressed the incident by announcing plans for stricter internal controls to prevent future information leaks and ensure a separation between the listing and project research teams.
Looking ahead, Aleksander Larsen, co-founder of Sky Mavis, shared his vision for Ronin’s role in the Web3 gaming sector. He highlighted the blockchain’s capability to support popular Web3 games through the Mavis Hub, likening it to a Steam-like platform dedicated to curating blockchain games.
Larsen anticipates the addition of 16 blockchain games to the Ronin ecosystem within the year, signaling a bright future for both Ronin and the broader Web3 gaming community.
